UAE ranks 7th globally in 2024 World Competitiveness Report

 



The United Arab Emirates has advanced three places in the world competitiveness ranking to be placed 7th globally according to the latest World Competitiveness Report 2024 released by the International Institute for Management Development IMD The UAE had ranked 10th in the previous year's report. 


The UAE advancement in the ranking reflects its strong economic performance despite global uncertainties The country scored high on key parameters like economic performance government efficiency business efficiency and infrastructure. The stable business environment, positive reform measures and diversified economy have helped UAE to maintain its leading position as a competitive economy It also reflects the success of the UAE vision to build a sustainable knowledge based economy.


The top spots in the ranking were secured by Switzerland, Singapore and Denmark respectively. However the UAE rise to the 7th position highlights its growing strength as a competitive free market economy with a business friendly environment. Low tax rates world class infrastructure stable political environment and strategic location have made UAE an attractive investment hub. Dubai specifically has emerged as a global commercial financial and logistics centre. 


The latest ranking is an endorsement of UAE resilient and diverse economy It will encourage further FDI inflows and business opportunities The UAE government will aim to push reforms and policies to retain this leading position in future competitiveness reports as well. Overall the rankings reflect UAE growing prominence as a stable prosperous and investor friendly nation.

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